Appoints New General Manager at Bogoso/Prestea
DENVER, December 6 /CNW/ - Golden Star Resources Ltd. (AMEX: GSS)(TSX:
GSC) ("Golden Star") today announced that it had completed the necessary
approvals to commence its offer to list shares on the Ghana Stock Exchange.
Golden Star also announced the appointment of Mr. Nigel Tamlyn as General
Manager of its Bogoso/Prestea mine.
Golden Star is pleased to announce that it has received all approvals
necessary to list its shares on the Ghana Stock Exchange and has launched the
formal offer for the sale of 3,170,000 shares at a price of 3 Cedis per share
to the Ghana investing public. The offer is expected to close on December 21,
2007 and the shares are expected to commence trading on the Ghana Stock
Exchange on January 14, 2008. A copy of the prospectus can be obtained from
Strategic African Securities, the Lead Manager of the Offer.
APPOINTMENT OF GENERAL MANAGER FOR BOGOSO/PRESTEA
Mr. Nigel Tamlyn has been appointed as General Manager for the
Bogoso/Prestea mine and assumed his responsibilities on December 3, 2007. Mr.
Tamlyn has a Masters Degree in Mining specializing in Mineral Economics, and
has broad production and senior management experience in the gold and minerals
industry in South Africa, Ireland, Philippines, Ethiopia and Vietnam. Mr.
Tamlyn replaces Mr. Colin Belshaw who resigned the position as of the same
Golden Star holds a 90% equity interest in Golden Star (Bogoso/Prestea)
Limited and Golden Star (Wassa) Limited, which respectively own the
Bogoso/Prestea and Wassa open-pit gold mines in Ghana. In addition, Golden
Star has an 81% interest in the currently inactive Prestea Underground mine in
Ghana, as well as gold exploration interests elsewhere in Ghana, in other
parts of West Africa and in the Guiana Shield of South America. Golden Star
has approximately 233 million shares outstanding.
Statements Regarding Forward-Looking Information: Some statements
contained in this news release are forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. Investors are
cautioned that forward-looking statements are inherently uncertain and involve
risks and uncertainties that could cause actual results to differ materially.
Such statements include comments regarding the intention to list its shares on
the Ghana Stock Exchange, proposed offering in Ghana, and the steps to be
taken to ensure common shares are tradable on all three exchanges. Factors
that could cause actual results to differ materially include fluctuations in
gold price, changes in U.S., Canadian and Ghanaian securities markets, and
failure to receive regulatory approvals. There can be no assurance that future
developments affecting the Company will be those anticipated by management.
Please refer to the discussion of these and other risk factors in our annual
report on Form 10-K, as amended, for the fiscal year ended December 31, 2006.
While we may elect to update the forecasts at any time, we do not undertake to
update them at any particular time or in response to any particular event.
Investors and others should not assume that any forecasts in this press
release represent management's estimate as of any date other than the date of
this press release.
For further information:
For further information: Golden Star Resources Ltd. Bruce Higson-Smith,
+1-800-553-8436 Vice President Corporate Development or Anne Hite,
+1-800-553-8436 Investor Relations Manager